Notice to Members 98-59
SEC Approves Amendments to NASD Rule 1120 (Continuing Education Requirements)
The Securities and Exchange Commission (SEC) recently approved amendments to National Association of Securities Dealers, Inc. (NASD®) Rule 1120 relating to Continuing Education requirements (see SEC Release No. 34-39712, dated March 3, 1998, and File No. SR-NASD-98-03). The text of amended Rule 1120 is included in this Notice. The rule changes are effective as of July 1, 1998.
Correction - On page 428, the second paragraph under subhead New Program For Principals should read:
For purposes of NASD rules, the following registrations will be included in the principal category: Series 4 (Registered Options Principal); Series 8 (General Securities Sales Supervisor); Series 24 (General Securities Principal); Series 26 (Investment Company Products/Variable Contracts Limited Principal); Series 27 (Financial and Operations Principal); Series 28 (Introducing Broker-Dealer Financial and Operational Principal); Series 39 (Direct Participation Programs Principal); Series 53 (Municipal Securities Principal Qualification); and the Government Securities Principal (no series number).